- Next year’s share of investment for e-mobility increases to around 40 percent, paving the way for Volkswagen Group China’s NEV offensive
- In 2020, production of ID. Models will start in two factories, electrifying the country and supporting the company’s major sustainability goal to become net carbon neutral by 2050
- Despite headwinds, Volkswagen Group China increases its market share to 19.5 percent and outperforms the Chinese market
- Dr. Stephan Wöllenstein: “Our continued investment is charting the right course. Though challenging times remain, we won’t slow down and will continue to excite customers with our strong brand portfolio and accelerating electrification.”
Volkswagen Group China to invest over 4 billion Euro in 2020
Volkswagen Group China, together with its Chinese partners, plans to invest over 4 billion Euro next year, with around 40 percent of this investment going towards e-mobility. This will accel-erate the Group’s electrification strategy, which will be strengthened next year through the start of production of models based on the modular electric drive toolkit MEB in Anting (SAIC VOLKSWAGEN) and Foshan (FAW-Volkswagen). Both factories are specifically designed for manufacturing all-electric cars.